Indian economy set for strong growth, says Volvo CEO

NEW DELHI: Martin Lundstedt, global president and CEO of Volvo Group, says the Indian economy is poised for a strong growth on the back of urbanisation and the greater work on roads and infrastructure development. “We see some core changes that have taken place in India, which are very encouraging with respect to our industry.
GST has been a big tax reform and as I understand, it can be a game changer in more than one ways.GST can have a profound impact on the logistics efficiency in our industry — and efficient logistics along with a good infrastructure are a pre-requisite for the growth and sustainable development for our industry.”
Lundstedt said India is now the fastest-growing large economy in the world and is in a transformation state. “Despite being in this change process, the macro-parameters of the economy are largely healthy and stable. Backing Indian economy is its young aspiring population as well as the constantly expanding middle class — which will remain a mainstay for the Indian market for quite sometime to come.